Old, tired, argument. None of these discussions are truly looking at the benefits or advantages of Bitcoin (or crypto) as a new form of secure money that already solves so many problems of current financial systems. They're all short-sighted. Yes, I think mining as a profitable industry means that a lot of resources are being poured into it - but the benefits are not being studied at all. Yes, Visa is always quoted as the prime method we all use to conduct transactions, and it is cheaper than crypto mining. But let's fast forward into a future when mining isn't quite as profitable. Where it will chiefly be used for its original purposes of securing the network. Visa probably spends so much more on employing people and putting up security systems - that will always get more expensive as it scales.
If the arguments start getting smarter (collect more data on COST BENEFiT), then maybe it's worth bringing up again. Or shall we stop the unsustainable use of internet when libraries are greener?
Topic: Bringing Sustainability to Crypto (Read 72 times)
It is no secret, the very process of mining (which is crucial to cryptocurrency) is very bad for the environment. Computer chips, batteries, power used, its benefiting our wallets but will soon destroy our planet.
In an article titled How is Bitcoin affecting the environment by CBSnews.com, "Nearly 10 U.S. households can be powered for one day by the electricity consumed for a single bitcoin transaction".
What are some potential solutions? Solar companies teaming up with alt-coin ventures to use alternative sources of energy for mining perhaps?
In an article titled How is Bitcoin affecting the environment by CBSnews.com, "Nearly 10 U.S. households can be powered for one day by the electricity consumed for a single bitcoin transaction".
What are some potential solutions? Solar companies teaming up with alt-coin ventures to use alternative sources of energy for mining perhaps?
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